12 Best Growth Stocks to Buy and Hold for the Long Term

10. Ascendis Pharma A/S (NASDAQ:ASND)

5-Year Sales Growth: 104.99%

Number of Hedge Fund Holders: 45

Ascendis Pharma A/S (NASDAQ:ASND) is an international technology company engaged in developing therapies using its proprietary TransCon technology platform. Its product portfolio and pipeline include treatments for growth hormone deficiency, endocrinology, rare diseases, chronic hypoparathyroidism, and cancer.

On May 5, Joseph Schwartz from Leerink Partners maintained a Buy rating on the stock with a price target of $200. The analyst noted the strong performance of YORVIPATH to be one of the reasons behind his bullish sentiment. Ascendis Pharma A/S (NASDAQ:ASND) generated €44.7 million in revenue with more than 1,750 prescriptions for YORVIPATH. These figures exceeded guidelines, signaling significant growth potential.

In addition, Schwartz also noted that the recent submission of the New Drug Application for TransCon CNP, aimed at treating achondroplasia, adds further upside to the company’s valuation. Ascendis Pharma A/S (NASDAQ:ASND) has grown its revenue by more than 104% over the past 5 years, making it one of the best growth stocks to buy and hold for the long term.

Artisan Mid Cap Fund stated the following regarding Ascendis Pharma A/S (NASDAQ:ASND) in its Q1 2025 investor letter:

“Among our top Q1 contributors were Spotify, Ascendis Pharma A/S (NASDAQ:ASND) and AutoZone. Shares of Ascendis experienced strength in the quarter due to the launch of its latest drug, Yorvipath. The drug treats hypoparathyroidism—a rare endocrine disorder with limited effective treatments. Our view is that this will be a significant profit cycle driver, given the sizable addressable market and the unmet needs in current care. Yorvipath was approved and launched in December, and the company’s latest earnings results showed the launch is running well ahead of expectations. While it’s still early, initial prescription data supports our bullish view of sales that could exceed market expectations by a wide margin. Meanwhile, Ascendis has a third promising drug, Transcon CNP (to treat achondroplasia), that was submitted for FDA approval in Q1 and could be launched in 2026.”